Binance acquires a regulated crypto exchange in Japan

Binance has successfully expanded its services over the past year by acquiring an operating license or buying a stake in an entity regulated.

Cryptocurrency exchange Binance plans to re-enter the Japanese market after acquiring a 100% stake in a licensed crypto services provider in the country, Cointelegraph Japan reported.< /p>

In an official public announcement on November 30, Binance CEO Changpeng Zhao said the crypto exchange is committed to re-entering the Japanese market in compliance with regulations. The acquisition of Sakura Exchange BitCoin (SEBC), a company licensed by the Japan Financial Services Agency, would mark the return of the global exchange to the Japanese market after four years.

#Binance Acquires JFSA Sakura Exchange BitCoin, Commits to Japan Entry Under Regulationshttps://t.co/xfdnaY2hiO

— CZ Binance (@cz_binance) November 30, 2022

Discussing the significance of the latest acquisition, a Binance spokesperson told Cointelegraph:

"We can say that the acquisition of SEBC marks Binance's first license in East Asia, and since Asia is a market with potential, we hope to expand into other regions."

Binance had to close its operations and plans to open a headquarters in Japan in 2018 after an FSA notice to operate without a license. The Japanese government